Aim-listed Stellar Diamonds said it has exported its first diamonds from the Baoulé project in Guinea.
A parcel of 941 carats, including gems up to 9 carats in size, was delivered to Antwerp where they would undergo cleaning, assorting and valuation prior to a planned sale later in the month.
Company chief executive Karl Smithson said in a statement to Rough & Polished that the move was a “milestone” for Stellar ahead of realising its first cash flow.
“Trial mine production is progressing very well and we have now reached our target processing capacity that at existing grades could yield monthly production of 2,000 carats per month if maintained,” he said.
“We anticipate a diamond export and sale every two months during 2015.”
Smithson said Stellar was pleased with the regular occurrence of gem quality stones of up to 9 carats in size from the limited processing to date.
“As this region of Guinea is renowned for its large diamonds of over 100 and 200 carats in size mined from alluvial mining, we are hopeful that we may recover yet larger, high value diamonds as we continue to process higher volumes of kimberlite over the coming months,” he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
